Subject: Law on Partnership and Corporations _17. a non-voting stock may vote in the following corporate acts, except in case ofa. approval of the compensation of directorsb. merger or consolidation\c. increase or decrease in capital stockd. sale, lease, exchange, mortgage, pledge or other disposition of all orsubstantially all of corporate property._18. Directors may be given compensation through any of the following ways, excepta. by the vote of the stockholders representing at least a majority of theoutstanding capital stockb. by a provision in the by lawsc. by the vote of the board of directors if the compensation is a reasonable perdiem,d. by the vote of the BOD if the compensation is other than per diems._19. One of the following acts may be performed by the executive committee of acorporation. Which is it?a. declaration of stock dividendsb. filling of vacancies in the board of directorsc. amendment or repeal of the by-laws or adoption of new by laws.d. Approval of contracts in the ordinary course of business._20. the following statements pertain to the express powers of a corporation.1. establish pension, retirement , and other plans for the benefit of itsdirectors, trustees, officers and employees.2. Make donations for the benefit of a political party or candidate or forpurposes of partisan political activity provided the donations arereasonable.a. both statements are true.b. Both statements are falsec. Statement 1 is true; statement 2 is false.d. Statement 1 is false; statement 2 is true. 10. Stock dividends differ from cash dividends in that stock dividendsdo not increase the legal capitalb. involve disbursements of corporate fundsc. require the approval of both the board of directors and the stockholdersd. once received by the stockholders, are beyond the reach of corporatecreditors.a.11.the subscriber of unpaid shares which are not delinquent shall be entitled to thefollowing rights, except the right toa. voteb. inspect corporate booksc. a stock certificated. dividends_12. these statements pertaining to the right of a stockholder to inspect the books andrecords of a corporation were presented to you for evaluation:1. the right may be delegated to an agent2. the right may be denied if in the past, the stockholder improperly usedthe information which he obtained from the books and records ofanother corporation of which he is also a stockholdera. both statements are trueb. both statements are falsec. statement 1 is true; statement 2 is falsed. statement 1 is false; statement 2 is true13. under this doctrine, the separate personality of a corporation may be disregarded if itis used for fraudulent or illegal purpose or to escape the faithful com pliance of an obligationa. trust fund doctrineb. doctrine of piercing the veil of corporate entityc. doctrine of corporate opportunityd. doctrine of limited capacity14. Consolidation differs from merger in that in consolidation:a. the surviving corporation shall enjoy all the rights, powers and attributes of acorporation under the corporation codeb. the existing liabilities of the constituent corporations shall be assumed by thesurviving corporationc. the corporate existence of all the constituent corporations shall beextinguished and a new corporation emergesd. the surviving corporation shall possess all the rights, privileges, immunitiesand franchises of the constituent corporation.15. The right of a stockholder to demand payment of the fair value of his/her shares whenhe dissents from certain corporate acts is known asa. pre-emptive rightb. appraisal rightc. redemption rightd. appreciation right16. the stock that is issued without consideration or below par value or the issued price isknown asa. watered stockb. delinquent stockc. redeemable stockd. preferred stock

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10. Stock dividends differ from cash dividends in that stock dividends a. do not increase the legal capital b. involve disbursements of corporate funds c. require the approval of both the board of directors and the stockholders d. once received by the stockholders, are beyond the reach of corporate creditors.

10. Stock dividends differ from cash dividends in that stock dividends a. do not increase the legal capital b. involve disbursements of corporate funds c. require the approval of both the board of directors and the stockholders d. once received by the stockholders, are beyond the reach of corporate creditors.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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